Protalix Biother Financials
This page shows Protalix Biother (PLX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A cash-generating rebound in FY2024 gave way to a working-capital-and-R&D financed setback in FY2025.
FY2024 looked like a real operating reset because earnings, operating cash flow, and free cash flow all turned positive together. FY2025 broke that alignment: revenue was essentially flat year over year, yet free cash flow fell from$7.4M to-$13.6M as gross margin compressed and R&D spending stepped back up, showing that profitability still depends more on expense intensity and working-capital timing than on steady sales alone.
Headline liquidity overstates cash flexibility: the current ratio reached 2.5x, which points to adequate near-term coverage. But only
The balance sheet is still carrying losses without heavy leverage: liabilities of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Protalix Biother's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Protalix Biother has an operating margin of -10.4%, meaning the company retains $-10 of operating profit per $100 of revenue. This below-average margin results in a low score of 23/100, suggesting thin profitability after operating expenses. This is down from 7.3% the prior year.
Protalix Biother's revenue declined 1.2% year-over-year, from $53.4M to $52.7M. This contraction results in a growth score of 16/100.
Protalix Biother carries a low D/E ratio of 0.71, meaning only $0.71 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
Protalix Biother's current ratio of 2.51 indicates adequate short-term liquidity, earning a score of 47/100. The company can meet its near-term obligations, though with limited headroom.
While Protalix Biother generated -$12.0M in operating cash flow, capex of $1.6M consumed most of it, leaving -$13.6M in free cash flow. This results in a low score of 1/100, reflecting heavy capital investment rather than weak cash generation.
Protalix Biother generates a -13.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is down from 6.8% the prior year.
Protalix Biother passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Protalix Biother generates $1.82 in operating cash flow (-$12.0M OCF vs -$6.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Protalix Biother generated $52.7M in revenue in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Protalix Biother's EBITDA was -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 177.3% from the prior year.
Protalix Biother reported -$6.6M in net income in fiscal year 2025. This represents a decrease of 325.2% from the prior year.
Protalix Biother earned $-0.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 300.0% from the prior year.
Cash & Balance Sheet
Protalix Biother generated -$13.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 284.4% from the prior year.
Protalix Biother held $14.7M in cash against $0 in long-term debt as of fiscal year 2025.
Protalix Biother had 80M shares outstanding in fiscal year 2025. This represents an increase of 6.0% from the prior year.
Margins & Returns
Protalix Biother's gross margin was 48.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the prior year.
Protalix Biother's operating margin was -10.4% in fiscal year 2025, reflecting core business profitability. This is down 17.8 percentage points from the prior year.
Protalix Biother's net profit margin was -12.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 18.0 percentage points from the prior year.
Protalix Biother's ROE was -13.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.5 percentage points from the prior year.
Capital Allocation
Protalix Biother invested $19.6M in research and development in fiscal year 2025. This represents an increase of 50.9% from the prior year.
Protalix Biother invested $1.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 27.8% from the prior year.
PLX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.8M+270.0% | $9.1M-48.9% | $17.9M+14.0% | $15.7M+54.8% | $10.1M-44.5% | $18.2M+1.4% | $18.0M+33.3% | $13.5M |
| Cost of Revenue | $4.1M-10.7% | $4.6M-44.5% | $8.3M+41.8% | $5.9M-28.2% | $8.2M+110.5% | $3.9M-53.6% | $8.4M-11.4% | $9.5M |
| Gross Profit | $29.6M+557.9% | $4.5M-52.7% | $9.5M-2.7% | $9.8M+406.4% | $1.9M-86.5% | $14.3M+49.5% | $9.6M+138.5% | $4.0M |
| R&D Expenses | $5.4M-3.7% | $5.6M+26.1% | $4.5M-25.5% | $6.0M+72.4% | $3.5M-15.7% | $4.1M+37.6% | $3.0M+1.2% | $3.0M |
| SG&A Expenses | $3.1M-13.5% | $3.5M+20.4% | $2.9M+11.6% | $2.6M+0.8% | $2.6M-13.2% | $3.0M+15.6% | $2.6M-25.5% | $3.5M |
| Operating Income | $21.1M+554.0% | -$4.7M-318.6% | $2.1M+81.8% | $1.2M+128.3% | -$4.1M-157.5% | $7.2M+80.6% | $4.0M+264.4% | -$2.4M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $2.8M+287.9% | $728K+727.6% | -$116K-123.3% | $497K+539.8% | -$113K-113.7% | $822K+35.4% | $607K+979.7% | -$69K |
| Net Income | $18.3M+432.8% | -$5.5M-333.7% | $2.4M+1336.0% | $164K+104.5% | -$3.6M-155.7% | $6.5M+100.7% | $3.2M+246.9% | -$2.2M |
| EPS (Diluted) | $0.22 | N/A | $0.03 | $0.00+100.0% | $-0.05 | N/A | $0.03+200.0% | $-0.03 |
PLX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $102.3M+24.3% | $82.3M+0.1% | $82.3M+4.8% | $78.5M+6.2% | $73.9M+0.6% | $73.4M+19.3% | $61.6M-32.7% | $91.5M |
| Current Assets | $86.4M+29.5% | $66.7M+0.3% | $66.5M+1.6% | $65.5M+8.2% | $60.5M+0.7% | $60.1M+25.5% | $47.9M-38.1% | $77.4M |
| Cash & Equivalents | $41.0M+179.3% | $14.7M+7.6% | $13.6M-23.7% | $17.9M-8.0% | $19.5M-1.5% | $19.8M-27.9% | $27.4M+17.1% | $23.4M |
| Inventory | $30.5M+18.4% | $25.7M+21.0% | $21.3M+0.6% | $21.1M+8.3% | $19.5M-8.2% | $21.2M+23.5% | $17.2M-17.0% | $20.7M |
| Accounts Receivable | $2.9M-66.8% | $8.8M-38.7% | $14.4M+52.8% | $9.4M+102.0% | $4.7M+60.7% | $2.9M+32.5% | $2.2M-78.3% | $10.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $35.1M+2.9% | $34.1M+16.2% | $29.4M+2.7% | $28.6M-0.4% | $28.7M-5.0% | $30.2M+3.7% | $29.1M-53.7% | $63.0M |
| Current Liabilities | $27.4M+3.3% | $26.5M+20.8% | $21.9M-8.9% | $24.1M-0.9% | $24.3M-5.1% | $25.6M+5.8% | $24.2M-58.2% | $58.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $67.2M+39.4% | $48.2M-8.8% | $52.9M+6.0% | $49.9M+10.4% | $45.2M+4.6% | $43.2M+33.2% | $32.4M+13.5% | $28.6M |
| Retained Earnings | N/A | -$385.0M | N/A | N/A | N/A | -$378.4M | N/A | N/A |
PLX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $22.0M+985.0% | $2.0M+154.4% | -$3.7M+28.7% | -$5.2M-3.5% | -$5.1M-226.7% | $4.0M-2.8% | $4.1M+213.7% | -$3.6M |
| Capital Expenditures | $761K+88.8% | $403K-19.1% | $498K+15.5% | $431K+40.8% | $306K-28.0% | $425K+388.5% | $87K-49.4% | $172K |
| Free Cash Flow | $21.3M+1206.9% | $1.6M+138.5% | -$4.2M+25.3% | -$5.7M-5.6% | -$5.4M-250.4% | $3.6M-11.2% | $4.0M+206.2% | -$3.8M |
| Investing Cash Flow | $4.2M+479.8% | -$1.1M-120.6% | -$504K-15.1% | -$438K-40.4% | -$312K+98.0% | -$15.3M-175.4% | $20.3M+11392.8% | -$180K |
| Financing Cash Flow | $150K+2.7% | $146K | $0-100.0% | $4.1M-19.1% | $5.1M+40.0% | $3.6M | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PLX Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.8%+38.4pp | 49.4%-4.0pp | 53.4%-9.1pp | 62.5%+43.4pp | 19.1%-59.6pp | 78.7%+25.3pp | 53.4%+23.5pp | 29.8% |
| Operating Margin | 62.6%+113.7pp | -51.1%-63.0pp | 11.9%+4.5pp | 7.5%+48.5pp | -41.0%-80.6pp | 39.6%+17.3pp | 22.2%+40.2pp | -18.0% |
| Net Margin | 54.3%+114.6pp | -60.3%-73.5pp | 13.2%+12.1pp | 1.1%+36.8pp | -35.8%-71.4pp | 35.6%+17.6pp | 18.0%+34.4pp | -16.4% |
| Return on Equity | 27.3%+38.7pp | -11.4%-15.9pp | 4.5%+4.1pp | 0.3%+8.3pp | -8.0%-23.0pp | 15.0%+5.0pp | 10.0%+17.7pp | -7.7% |
| Return on Assets | 17.9%+24.6pp | -6.7%-9.5pp | 2.9%+2.6pp | 0.2%+5.1pp | -4.9%-13.8pp | 8.8%+3.6pp | 5.3%+7.7pp | -2.4% |
| Current Ratio | 3.15+0.6 | 2.51-0.5 | 3.03+0.3 | 2.72+0.2 | 2.49+0.1 | 2.34+0.4 | 1.98+0.6 | 1.33 |
| Debt-to-Equity | 0.52-0.2 | 0.71+0.2 | 0.55-0.0 | 0.57-0.1 | 0.63-0.1 | 0.70-0.2 | 0.90-1.3 | 2.20 |
| FCF Margin | 63.0%+45.2pp | 17.8%+41.5pp | -23.7%+12.5pp | -36.2%+16.9pp | -53.0%-72.6pp | 19.6%-2.8pp | 22.4%+50.4pp | -28.1% |
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Frequently Asked Questions
What is Protalix Biother's annual revenue?
Protalix Biother (PLX) reported $52.7M in total revenue for fiscal year 2025. This represents a -1.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Protalix Biother's revenue growing?
Protalix Biother (PLX) revenue declined by 1.2% year-over-year, from $53.4M to $52.7M in fiscal year 2025.
Is Protalix Biother profitable?
No, Protalix Biother (PLX) reported a net income of -$6.6M in fiscal year 2025, with a net profit margin of -12.5%.
What is Protalix Biother's EBITDA?
Protalix Biother (PLX) had EBITDA of -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Protalix Biother's gross margin?
Protalix Biother (PLX) had a gross margin of 48.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Protalix Biother's operating margin?
Protalix Biother (PLX) had an operating margin of -10.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Protalix Biother's net profit margin?
Protalix Biother (PLX) had a net profit margin of -12.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Protalix Biother's return on equity (ROE)?
Protalix Biother (PLX) has a return on equity of -13.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Protalix Biother's free cash flow?
Protalix Biother (PLX) generated -$13.6M in free cash flow during fiscal year 2025. This represents a -284.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Protalix Biother's operating cash flow?
Protalix Biother (PLX) generated -$12.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Protalix Biother's total assets?
Protalix Biother (PLX) had $82.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Protalix Biother's capital expenditures?
Protalix Biother (PLX) invested $1.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Protalix Biother spend on research and development?
Protalix Biother (PLX) invested $19.6M in research and development during fiscal year 2025.
What is Protalix Biother's current ratio?
Protalix Biother (PLX) had a current ratio of 2.51 as of fiscal year 2025, which is generally considered healthy.
What is Protalix Biother's debt-to-equity ratio?
Protalix Biother (PLX) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Protalix Biother's return on assets (ROA)?
Protalix Biother (PLX) had a return on assets of -8.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Protalix Biother's cash runway?
Based on fiscal year 2025 data, Protalix Biother (PLX) had $14.7M in cash against an annual operating cash burn of $12.0M. This gives an estimated cash runway of approximately 15 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Protalix Biother's Piotroski F-Score?
Protalix Biother (PLX) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Protalix Biother's earnings high quality?
Protalix Biother (PLX) has an earnings quality ratio of 1.82x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Protalix Biother?
Protalix Biother (PLX) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.